Re: Some forward thinking

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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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spiderman8

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Re: Some forward thinking

in response to

Some forward thinking

Wetcoaster

posted on Aug 09, 2011 06:14PM

Cost for 24K expansion will be about$900M. With CLL Track record they will only produce about 18-20K.

Value per flowing barrel of bitumen about $50,000. I believe an 18,000 bbl/d (with decent reserves) producer would be or could be sold for about $900M.

If CLL was operator then I would want 100% of first 20,000 barrels for $900M and 50% over 20K.

CLL is selling their bitumen and their poor track record, so the only value is the bitumen.

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